According to PANews, 10x Research has indicated that the overall market environment for Bitcoin is improving. Factors such as rising oil prices, stable bond yields, and cautious signals from the Federal Reserve are enhancing Bitcoin's appeal, potentially redirecting funds from altcoins like ADA and DOT towards Bitcoin.
Currently, Bitcoin's price is experiencing minor fluctuations around $106,000, with ongoing consolidation possibly building momentum for a future breakout. On-chain data suggests that as long as the price remains above $100,437, significant adjustments are unlikely.
In the short term, the neutral stance of Federal Reserve Chair Jerome Powell and seasonal factors may cause continued volatility for Bitcoin. However, from a medium to long-term perspective, a crucial market signal has turned bullish, potentially laying the groundwork for Bitcoin's subsequent rise.
